Good evening. It is Sunday October 23rd, 2016. This is our Weekly 5min Wrap Up video; and we start again with the Dollar Index ($DXY, #DXY, $UUP, #UDO, #Dollar, #DollarIndex). As you can see we had one more bounce at our upper parallel with price pushing higher. A significant advance as we were expecting. If we zoom out, it gets a bit messy, but if your simply hide the 20min chart, you’ll see that we are not far away of hitting our Median Line, our target. So expecting one more advance. We’ll see if momentum is extended here and if there is really here much more room to go from here.

Lets have a quick look at the indices with the SPX (#SP500, #ES_F, $ES_F, #SPX, $SPX, #SPY, $SPY). A few things of note. First of all, we indeed had price moving away from our Median Line but no follow through. So we were pondering if price could make a move towards the 21 handle. As of now it did not happen. And two things we can deduce from that. At least, if we really stay at these levels, we could for example have a look at a Andrews Pitchfork to the upside - as such. And the premise would be that we are indeed having buyers stepping in at these levels. We would then see one more push to the upside and we need to see a brake of this structure at the 2150 area for a significant advance into the 2170 area; taking out all the levels in between and also making sure that this Grey Andrews Pitchfork to the downside is indeed not describing price action anymore. Lets continue with the indices some more.

For those who follow the EuroStoxx 50 we witnessed price moving outside of the downtrending 50 percent Pitchfork. If we take out the highs here, there is a chance that we move significantly higher. We’ll see if this will be the case.

If you follow the Nasdaq (#NDX, $NDX, #COMPQ, $COMPQ, #QQQ, $QQQ, #Nasdaq, $Nasdaq). What is interesting here - this is the wider view, the 1 Day chart, price fell outside the Andrews Pitchfork and is moving up again. Price is now stuck at the prior lower parallel. Now You you could add another fork to describe this latest move, but this is quiet a tight range and the thinking is, is that perhaps we’ll see price move sideways for quiet sometime; not saying we are going to brake right away to the downside, we did indeed take out some highs but it looks difficult for price to move significantly higher again. Right now the one theory would be to see price stay rangebound for quiet some time.

If you follow the DAX (#DAX, $DAX, $FDAX_F, #F_DAX, #DE30, $DE30, #FDXZ6, $FDXZ6). What is interesting here: price almost hitting key levels I would say with structure around 10950 or thereabout should be quiet interesting. If you zoom out you’ll notice that price is still very well contained inside the blue Andrews Pitchfork but I think that the grey fork is even more interesting whereby we saw price moving outside the fork, down to structure that held. We pushed higher again and there is not much structure up there, only a few multipivot lines that could come into play. Again this area just above will be of interest. If we push higher one should really look at price or at the bars rather more closely.

Lets have a look now at the currencies. We start with the Euro Weekly ($EURUSD, #EURUSD, #FXE, $FXE, #6E_F, $6EF, #Euro). As you can see nice follow through, price moving lower. If we drill down into the 4hour chart. We had this Andrews Pitchfork to give us some guidelines, with the ECB event and price moving nicely into structure, testing the multipivot line. Price back down again and as you can see, an area of interest would be this multipivot line around 1.0820. That should be looked at a bit more closely.

Also on the radar is the Canadian Dollar (#USDCAD, $USDCAD, $6C_F, #6C_F, #FXC, $FXC, #CAD). This is the weekly chart and where we stand currently. We have a very wide range. If indeed we push higher there is room pretty much until 1.3760. If we drill down (4h chart); I kept the prior Schiff Fork here in orange more out of curiosity than anything else. We don’t really need it because if you look at extremes, pretty much, the same key lines interest. There is no need to complicate things. So if we look at this uptrending Andrews Pitchfork, you’ll notice that even on the 20min, we got price testing the extremes of our downtrending Andrews Pitchfork for a nice reversal and a subsequent follow through. Now looking to see as we close nicely above the highs, how high we could move again. The top of the range probably well defined by the weekly chart; on the smaller timeframes, it would be nice to see a bit of pausing, to have less of a vertical move and a bit of a base to work with.

All right, that’s it for today. Thanks for listening and see you next week. Take care. Bye.